Murchinson Ltd. Boosts Stock Holdings in Enovix Corporation $ENVX

by · The Markets Daily

Murchinson Ltd. boosted its stake in shares of Enovix Corporation (NASDAQ:ENVX – Free Report) by 66.7% during the first quarter, HoldingsChannel.com reports. The firm owned 50,000 shares of the company’s stock after acquiring an additional 20,000 shares during the period. Murchinson Ltd.’s holdings in Enovix were worth $367,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ENVX. Stone House Investment Management LLC purchased a new position in Enovix during the first quarter worth approximately $37,000. Sava Infond d.o.o. raised its holdings in Enovix by 50.0% in the first quarter. Sava Infond d.o.o. now owns 6,000 shares of the company’s stock valued at $44,000 after buying an additional 2,000 shares during the period. Parallel Advisors LLC raised its holdings in Enovix by 103.8% in the first quarter. Parallel Advisors LLC now owns 7,557 shares of the company’s stock valued at $55,000 after buying an additional 3,849 shares during the period. HBK Sorce Advisory LLC purchased a new position in Enovix in the first quarter valued at approximately $74,000. Finally, Smith Salley Wealth Management purchased a new position in shares of Enovix in the 1st quarter valued at $75,000. Hedge funds and other institutional investors own 50.92% of the company’s stock.

Enovix Stock Performance

Enovix stock opened at $9.19 on Friday. Enovix Corporation has a 12-month low of $5.27 and a 12-month high of $16.49. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of -10.94 and a beta of 2.08. The company has a debt-to-equity ratio of 0.82, a current ratio of 4.37 and a quick ratio of 4.11. The firm’s fifty day moving average price is $11.90 and its 200 day moving average price is $9.18.

Enovix (NASDAQ:ENVX – Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.02. Enovix had a negative net margin of 481.35% and a negative return on equity of 73.88%. The firm had revenue of $7.50 million for the quarter, compared to the consensus estimate of $5.48 million. During the same quarter in the previous year, the firm posted ($0.14) EPS. The firm’s quarterly revenue was up 98.2% on a year-over-year basis. Enovix has set its Q3 2025 guidance at -0.180–0.140 EPS. On average, research analysts forecast that Enovix Corporation will post -1.01 EPS for the current fiscal year.

Enovix announced that its board has authorized a share repurchase program on Wednesday, July 2nd that authorizes the company to buyback $60.00 million in shares. This buyback authorization authorizes the company to buy up to 3.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ENVX shares. Wall Street Zen downgraded shares of Enovix from a “hold” rating to a “sell” rating in a research note on Saturday. Benchmark raised their target price on shares of Enovix from $15.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, July 25th. TD Cowen raised shares of Enovix to a “hold” rating and raised their target price for the company from $7.00 to $15.00 in a research note on Monday, July 7th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $12.00 target price (up previously from $9.00) on shares of Enovix in a research note on Thursday, July 24th. Finally, Canaccord Genuity Group raised their target price on shares of Enovix from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, August 4th. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.00.

View Our Latest Research Report on Enovix

Enovix Profile

(Free Report)

Enovix Corporation designs develops and manufactures silicon-anode lithium-ion batteries. It serves wearables and IoT, smartphone, laptops and tablets, industrial and medical, and electric vehicles industries. The company was founded in 2007 and is headquartered in Fremont, California.

See Also

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